![\"Iran](\"https:\/\/www.europesays.com\/iran\/wp-content\/uploads\/2026\/04\/b051adb454a90e88a3606909176fe281.jpeg\"\/)
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The Stena Impero being seized and detained in 2019 in Bandar Abbas, Iran, along the Strait of Hormuz. (Getty Images file)<\/p>\n
(Getty Images file)<\/p>\n
Oil prices jumped and stocks tumbled Tuesday morning, after the United States launched new strikes on Iran’s Kharg Island and President Donald Trump’s 8 p.m. ET deadline to reopen the Strait of Hormuz approached without a clear resolution.<\/p>\n
The price of U.S. crude oil jumped nearly 5% to $117 per barrel. International Brent crude oil rose to nearly $111 per barrel.<\/p>\n
Stocks, meanwhile, dropped on near constant headlines about the war. The S&P 500 fell 1% and the Nasdaq Composite dropped 1.6%. The Dow fell 380 points or 0.8% and the Russell 2000 index, which tracks smaller companies, fell 1%.<\/p>\n
U.S. Treasury bonds that influence consumer interest rates also fell, sending rates higher. The 10-year yield rose to 4.38%, its highest level since last week.<\/p>\n
The declines came after relatively muted overnight trading. On Tuesday morning, a U.S. official confirmed<\/a> the new strikes on Iran’s Kharg Island, from which Iran exports about 90% of its crude oil.<\/p>\n The U.S. previously struck the island March 13<\/a>. At the time, Trump wrote on social media that “every MILITARY target in Iran\u2019s crown jewel, Kharg Island” had been “totally obliterated.”<\/p>\n Tuesday’s strikes were focused on military facilities and did not impact energy infrastructure on the island, an official told NBC News.<\/p>\n \u201cOil prices remain the key driver as investors grapple with a broadening supply shock, as well as occasional hopes for de-escalation of the Middle East conflict and an easing of supply chain disruptions,\u201d BlackRock analysts said Monday.<\/p>\n As of Tuesday morning, the average price per gallon of retail gasoline was $4.14. The average price per gallon of diesel fuel was $5.64, nearing its 2022 all-time high of $5.82.<\/p>\n At the same time, Trump continued to ramp up his threats against Iran.<\/p>\n Early Tuesday, he wrote on Truth Social that “A whole civilization will die tonight” if a deal with Iran is not reached and the Strait of Hormuz is not reopened by his deadline.<\/p>\n However, market participants will likely be reading Trump’s latest post carefully. It ends with Trump hinting that perhaps “smarter, and less radicalized minds prevail” in U.S. talks with Iran’s current leaders.<\/p>\n Gas prices topping $6 a gallon on Sunset Boulevard in Los Angeles on Monday. (Frederic J. Brown \/ AFP – Getty Images)<\/p>\n (Frederic J. Brown)<\/p>\n Since the war with Iran started Feb. 28, Trump has repeatedly announced a pause in strikes or extended talks just before deadlines that he has set.<\/p>\n “Barring any movement on the diplomatic front, it\u2019s going to be hard for investors to take on much risk ahead of the President\u2019s 8 PM deadline,” analysts at Bespoke Investment Group wrote in a note. “At no time would a Taco Tuesday be more welcome than today, but the President has shown no signs of backing down,” they added, referring to a frequently used Wall Street acronym<\/a> that stands for “Trump Always Chickens Out.”<\/p>\n The price of oil has been whipsawed by constant headlines and social media posts from the president since the war began.<\/p>\n “The strategic picture has hardened into two divergent paths,” analysts at Soci\u00e9t\u00e9 G\u00e9n\u00e9rale wrote. “Either we get a fragile d\u00e9tente \u2014no ground war, controlled escalation, gradual supply recovery\u2013 or a protracted conflict with boots on the ground and structurally higher risk premia as countries respond with extreme stockpiling.”<\/p>\n “U.S. signalling now leans toward the latter,” they added.<\/p>\n","protected":false},"excerpt":{"rendered":"The Stena Impero being seized and detained in 2019 in Bandar Abbas, Iran, along the Strait of Hormuz.…\n","protected":false},"author":2,"featured_media":55964,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[15477,38,102,34,2601,261,101,22002],"class_list":{"0":"post-55963","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-strait-of-hormuz","8":"tag-deadline","9":"tag-donald-trump","10":"tag-hormuz","11":"tag-iran","12":"tag-kharg-island","13":"tag-oil-prices","14":"tag-strait-of-hormuz","15":"tag-tuesday-morning"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116364163457630213","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/55963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=55963"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/55963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/55964"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=55963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=55963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=55963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Gas](\"https:\/\/www.europesays.com\/iran\/wp-content\/uploads\/2026\/04\/78246068a29f07193a3edcbd38ec8a30.jpeg\"\/)
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